Primero Mining Corp. Provides Update on Exploration Activities at Black Fox Complex
Feb 23 15
Primero Mining Corp. provided a final update on exploration activities in 2014, including results from January 2015, at its Black Fox Complex, which includes the Black Fox mine and adjacent Grey Fox exploration property, located in the Township
of Black River-Matheson near Timmins, Ontario, Canada. High-grade Central Corridor Expanded: Results from the Lower Central zone with 8.4 grams per tonne (g/t) gold over 17.3 metres including 54.5 g/t gold over 1.1 metres and 35.8 g/t gold over 1.7 metres (520-EX67-E), and 9.8 g/t gold over 6.2 metres (520-EX55-E) have expanded the width of the high-grade corridor. Mineralization has also now been traced to a depth of approximately 800 metres below surface at Black Fox. Delineation Drilling Expands Near Infrastructure Mineralization: Delineation results include 111.3 g/t gold over 3.5 metres (370-F482-40), 16.3 g/t gold over 13.2 metres (530-03-EAB) and 84.2 g/t gold over 2.5 metres (335-160W). Lower East Zone Extended at Depth: Results from the Lower East zone include 30.9 g/t gold over 6.2 metres (530-B389-23), and 15.5 g/t gold over 9.9 metres (470-F566-13A). Discovery of Two New Near Surface Zones: The Tamarack Gold zone was discovered approximately 400 metres east of the current Black Fox open-pit with intercepts including 11.6 g/t gold over 5.5 metres (14BF-599) and 8.4 g/t gold over 3.0 metres (14BF-594). In addition, drilling approximately 1.2 kilometres west of the open-pit encountered a long intercept of continuous mineralization grading 1.7 g/t gold over 66.0 metres (14BF-591) at a depth of approximately 150 meters below surface. Grey Fox Highlights: Contact Zone and Grey Fox South Expanded: Highlights include 16.0 g/t gold over 8.0 metres (GF14-922), 13.7 g/t gold over 7.9 metres (GF14-928) and 3.1 g/t gold over 34.0 metres (GF14-942). Expanding the Black Fox High-Grade Central Corridor at Depth: Primero's 2014 $18.3 million exploration program at the Black Fox Complex included an extensive drilling program at both the Black Fox mine and the adjacent Grey Fox property. The exploration and delineation program included 132,100 metres of drilling, split into 55,700 metres at Black Fox and 76,400 metres at Grey Fox.
Primero Mining Corp. Presents at Prospectors & Developers Association Conference 2015, Mar-02-2015 04:20 PM
Feb 17 15
Primero Mining Corp. Presents at Prospectors & Developers Association Conference 2015, Mar-02-2015 04:20 PM. Venue: Toronto, Ontario, Canada. Speakers: Tamara Brown, Vice President of Investor Relations and Member of Disclosure Committee.
Primero Mining Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Financial Guidance for the Full Year of 2015
Feb 12 15
Primero Mining Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net loss of $109,964,000 or $0.69 per basic and diluted share on revenue of $71,171,000 against net loss of $35,895,000 or $0.31 per basic and diluted share on revenue of $47,737,000 a year ago. Loss from operations was $99,147,000 compared to earnings from operations was $5,635,000 a year ago. Loss before income taxes was $99,249,000 compared to earnings before income taxes was $4,079,000 a year ago. Cash provided by operating activities was $23,590,000 compared to $25,446,000 a year ago. Expenditures on mining interests were $30,771,000 compared to $25,227,000 a year ago.
For the full year, the company reported net loss of $224,384,000 or $1.48 per basic and diluted share on revenue of $274,612,000 against net loss of $4,250,000 or $0.04 per basic and diluted share on revenue of $200,326,000 a year ago. Loss from operations was $194,920,000 compared to earnings from operations was $51,103,000 a year ago. Loss before income taxes was $206,657,000 compared to earnings before income taxes was $41,150,000 a year ago. Cash provided by operating activities was $44,212,000 compared to $69,805,000 a year ago. Expenditures on mining interests were $112,294,000 compared to $71,481,000 a year ago.
Total capital expenditures during 2015 are expected to be approximately $66.7 million excluding capitalized exploration costs of $18.6 million.